The unparalleled growth of slums in urban centres reflects both on the poor housing conditions of a large section of the society and the massive shortfall of affordable homes near economic clusters. Lack of developable land parcels in city centres is one of the significant challenges towards the development of such homes in metros. In order to address all housing associated concerns, the government included a plan to develop existing slums ‘in situ’ in PMAY, implying on the same land. The approach aims at leveraging the potential of land parcels locked under slums to provide formal urban settlements to slum dwellers by using land as a resource with private participation.
Salient features of slum rehabilitation under PMAY
Approach towards slum redevelopment
Coffers for the development of the project would arise from the slum rehabilitation grant of Central Government or funds sanctioned by State/ULBs or even the positive premium received from other projects. The implementation authorities would have a single account to hold the reserves from all sources. Such accounts could be opened city-wise.
Strategy for Slum Redevelopment